Guideline Value for West Kulakarai Street

West Kulakarai Street guideline value

The current guideline value of West Kulakarai Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of West Kulakarai Street has changed

The guideline value for West Kulakarai Street has seen significant changes over the years. In 2003, the guideline value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. By 2017, the value rose dramatically to Rs 804 per sq.ft, reflecting a 130% increase from the previous revision. The 2023 revision set the value at Rs 1,200 per sq.ft, marking a 49% increase from 2017. The latest revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, which is a 10% rise from the previous year. Notably, there are no figures available for the years 2002 and 2012 for this street.

Overall, from 2003 to 2024, the guideline value has increased by 323%, indicating a substantial rise in the value of properties in this area over the two decades.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing West Kulakarai Street's 2024 figure below that median.

• VOC Street / Durga Nagar: Rs 2,420 per sq.ft (2024)
• Yerikarai Pillayar Koil Street: Rs 1,320 per sq.ft (2024)
• Yerikarai Pillayar Koil Street (Ward 13): Rs 1,320 per sq.ft (2024)
• Yerikarai Street: Rs 1,320 per sq.ft (2024)
• Vinoba Street: Rs 2,420 per sq.ft (2024)
• Vikshadha Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in West Kulakarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty, charged at 7%, would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Kulakarai Street?

The Sub Registrar Office that covers West Kulakarai Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruneermalai

The guideline value plays a crucial role in the registration process of property transactions in Thiruneermalai. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall costs associated with property transactions. Accurate valuation helps in maintaining transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of West Kulakarai Street?

The current guideline value of West Kulakarai Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 312 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, marking a total increase of 323% over this period.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for West Kulakarai Street?

The Pammal Sub Registrar Office is responsible for handling property registrations for West Kulakarai Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets with different guideline values in Thiruneermalai?

Yes, there are several other streets in Thiruneermalai with varying guideline values. For example, VOC Street / Durga Nagar has a guideline value of Rs 2,420 per sq.ft, while Yerikarai Pillayar Koil Street is valued at Rs 1,320 per sq.ft.